NEW YORK, Aug. 12, 2014 /PRNewswire/ -- Consumer spending accounts for more than two-thirds of US economic activity. After a poor first quarter, mostly due to harsh weather conditions, both consumer spending and total US economic growth rebounded nicely in Q2. Now, heading into the back-to-school season – which, according to the National Retail Federation, is expected to grow 3% from last year to approximately $75 billion – many analysts are forecasting a stronger finish to 2014. While most consumers spent more on big ticket items such as cars and homes in the first half of the year, discretionary spending on retail is expected to perform better in the second half of the year helped by pent-up demand and the usual holiday season surge. Many retailers, such as J.C. Penney, depend on this second half surge in consumer spending – particularly in Q4 – given the significant portion of their total sales and profits that are recorded during this time.
J.C. Penney Company, Inc. (NYSEMKT: JCP) is a leading retailer that sells merchandise and services to consumers through its department stores in the United States. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney, and home furnishings. Their department stores also provide customers with services, including salon styling, optical, portrait photography, and custom decorating. The company also sells its products through its website, jcp.com.
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